Insider Selling: Guardant Health (NASDAQ:GH) CEO Sells $9,402,458.30 in Stock

Guardant Health, Inc. (NASDAQ:GH) CEO Helmy Eltoukhy sold 90,565 shares of Guardant Health stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $103.82, for a total transaction of $9,402,458.30. Following the completion of the transaction, the chief executive officer owned 2,047,143 shares of the company’s stock, valued at $212,534,386.26. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Guardant Health Stock Performance

GH traded down $2.53 during midday trading on Wednesday, hitting $97.47. The stock had a trading volume of 1,912,147 shares, compared to its average volume of 2,452,903. Guardant Health, Inc. has a 1 year low of $29.91 and a 1 year high of $112.43. The business has a fifty day moving average of $90.23 and a 200 day moving average of $66.58. The company has a market cap of $12.29 billion, a P/E ratio of -30.36 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.09. During the same quarter in the prior year, the company earned ($0.88) EPS. Guardant Health’s quarterly revenue was up 38.5% on a year-over-year basis. On average, equities research analysts anticipate that Guardant Health, Inc. will post -2.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GH shares. Wells Fargo & Company upped their target price on shares of Guardant Health from $93.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday. Wolfe Research upgraded Guardant Health from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Thursday, September 25th. Canaccord Genuity Group set a $100.00 price objective on shares of Guardant Health in a research report on Thursday, October 30th. Mizuho increased their price target on shares of Guardant Health from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Cowen restated a “buy” rating on shares of Guardant Health in a report on Thursday, October 30th. Twenty-three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Guardant Health has a consensus rating of “Moderate Buy” and an average price target of $95.52.

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently bought and sold shares of the business. Signaturefd LLC lifted its stake in shares of Guardant Health by 50.5% during the 2nd quarter. Signaturefd LLC now owns 635 shares of the company’s stock worth $33,000 after purchasing an additional 213 shares during the last quarter. IFP Advisors Inc grew its position in shares of Guardant Health by 120.1% in the 2nd quarter. IFP Advisors Inc now owns 612 shares of the company’s stock worth $33,000 after buying an additional 334 shares during the last quarter. Allworth Financial LP raised its stake in shares of Guardant Health by 358.4% during the 2nd quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after acquiring an additional 552 shares in the last quarter. Sound Income Strategies LLC acquired a new stake in Guardant Health in the third quarter valued at approximately $38,000. Finally, Optiver Holding B.V. increased its position in shares of Guardant Health by 153.5% during the third quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock worth $48,000 after purchasing an additional 465 shares in the last quarter. 92.60% of the stock is owned by hedge funds and other institutional investors.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.